Burney Co. Buys New Position in Medifast, Inc. (NYSE:MED)

Burney Co. acquired a new stake in Medifast, Inc. (NYSE:MED) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 20,064 shares of the specialty retailer’s stock, valued at approximately $769,000.

Several other large investors also recently modified their holdings of MED. SG Americas Securities LLC boosted its holdings in shares of Medifast by 2.5% during the 4th quarter. SG Americas Securities LLC now owns 7,266 shares of the specialty retailer’s stock worth $488,000 after buying an additional 174 shares in the last quarter. Aigen Investment Management LP increased its stake in Medifast by 5.7% during the 4th quarter. Aigen Investment Management LP now owns 3,700 shares of the specialty retailer’s stock valued at $249,000 after purchasing an additional 199 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its holdings in Medifast by 1.8% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 35,495 shares of the specialty retailer’s stock worth $2,386,000 after buying an additional 615 shares during the last quarter. Illinois Municipal Retirement Fund raised its holdings in Medifast by 10.4% during the first quarter. Illinois Municipal Retirement Fund now owns 6,589 shares of the specialty retailer’s stock worth $252,000 after buying an additional 618 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Medifast by 53.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,628 shares of the specialty retailer’s stock valued at $177,000 after buying an additional 911 shares in the last quarter. 95.51% of the stock is currently owned by institutional investors and hedge funds.

Medifast Trading Down 0.9 %

Medifast stock traded down $0.19 during trading on Friday, hitting $21.47. 317,149 shares of the company were exchanged, compared to its average volume of 367,816. The company has a market capitalization of $234.88 million, a P/E ratio of 3.46 and a beta of 1.15. The business’s 50 day moving average is $20.72 and its 200 day moving average is $32.44. Medifast, Inc. has a 52 week low of $17.86 and a 52 week high of $102.30.

Analyst Upgrades and Downgrades

Separately, DA Davidson restated an “underperform” rating and issued a $17.50 target price on shares of Medifast in a report on Monday, July 22nd.

Medifast Company Profile

Medifast, Inc, through its subsidiaries, engages in the manufacture and sale of weight loss, weight management, and healthy living products in the United States and the Asia-Pacific. It offers bars, puffs, cereal, crunchers, drinks, hearty choices, oatmeal, pancakes, pudding, soft serve, shakes, smoothies, soft bakes, and soups under the OPTAVIA, OPTAVIA ACTIVE, and Optimal Health brand names.